00:00 President Bongbong Marcos destroyed the so-called tapias taripa in rice to lower the price of it in the markets.
00:08 According to the President, there is no shortage of rice supply,
00:11 as well as hoarders and smugglers.
00:14 Succession Cruz.
00:16 The distribution of cash assistance to small rice retailers in Pateros has been completed.
00:24 The profit was affected because of the price cap on rice.
00:28 Although they were unable to collect P15,000 worth of cash assistance,
00:33 It's not enough, but it's a big help because we can't adjust.
00:38 It's a big thing for the store to be able to collect even our small loss.
00:44 All the affected have been given and of course,
00:47 our problem here is that the low price of rice supply will still last.
00:53 President Bongbong Marcos said that there is no shortage of rice supply in the country.
00:59 It's just the work of smugglers and hoarders.
01:02 I decided that the whole force of the government should stop these illegal operations.
01:09 Earlier, some smuggled rice was distributed in Manila.
01:14 According to the President, these rice were distributed by smuggled rice that was smuggled in Zamboanga, Port Kamakilan.
01:21 It's better to distribute it to the poor than to the needy.
01:26 This is a good process of investigation, investigation and inspection
01:33 to ensure that this is safe to distribute to the needy.
01:39 This will also be of great help to all smugglers and hoarders.
01:45 For us, who are poor, we were given a blessing.
01:52 We can eat this. We can eat this for a month.
01:56 This is a big help for the 1,004 beneficiaries who were given rice,
02:00 especially until yesterday, the regular meal was still up to P43,
02:05 while the well meal was P49.
02:08 The price cap was increased to P41 and P45.
02:13 But if it's true, the Department of Agriculture said that it has already decreased.
02:18 So the question is, will they remove the price cap?
02:21 It will take two more days. Maybe after one week, we will know if it will be removed or not.
02:29 We will have to temper the prices for a little more time before we can remove the price cap.
02:37 The National Food Authority said that they are buying rice worth P19 to P23 per kilo
02:44 that will serve as a buffer stock to lower the price of rice.
02:48 The government first emphasized the temporary removal of the price cap for imported rice.
02:53 But the President rejected this, according to the Presidential Communications Office.
02:59 The government's agricultural and economic managers agreed that this is not the right time
03:05 because the price of rice in the world market is expected to drop.
03:09 For GMA Integrated News, I am Ian Cruz, your witness.
03:14 [music]
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